.jpg "Forex Heatmap")
Forex FAQs: Frequently Asked Questions
Here are some frequently asked questions and commonly asked questions (FAQs) that forex traders ask regularly about forex trading and Forexearlywarning.com.
I am considering a subscription to Forexearlywarning what steps should I follow? Read the website thoroughly. Email us questions and ask for a free phone or skype consultation if you wish to clear up any questions. When you think you have a grasp of the system set up the free forex trend indicators and learn to set price alerts. Go ahead and subscribe and be ready to start demo trading our system immediately after that.
Why is Forexearlywarning.com only $19.95 per month? In order to facilitate proper testing of our system by demo trading, moving from there to micro lots, then full scale lots takes time. Most traders have to get used to trading 28 pairs because they have been scalping one or two pairs with technical indicators and there is an adjustment period because we do not use those methods. After one or two months you will be used to our system. If the cost is low, it facilitates long term trading currencies as a career option, we are always looking for long term clients.
How I know the forex is right for me? You really do not know. You must first find a trading system that works and is profitable, then you must learn the system well, then demo trade the system, without bias. A lot of traders look for shortcuts but this is how you do it with any trading system. But you can definitely trade for a living and the upside earning potential is large. You are in no hurry to learn our trading system and the resources like illustrated articles and videos are all free.
How do I know Forexearlywarning is right for me? You do not know this either, at first. But if you read our website thoroughly you will learn how we prepare our trade plans and enter trades so you can make an informed decision to learn and trade with us at no cost to you. Forex traders generally scalp one or two pairs with technical indicators and are woefully uninformed as to what makes currency pairs move. You must study our system with all of our free resources and decide if you really want to make pips or continue struggling for the rest of your currency trading career with lousy options like technical indicators. Our system is highly logical and it works.
What style of trading do you use? At Forexearlywarning we use swing to position forex trading style, using the H4 time frame and larger, when the market trends are available to support this. We also write trade plans for the larger oscillation and ranging cycles on the higher time frames that we identify. We do not teach day trading but the signals we provide can be used for profiting from intraday movements. The system is quite flexible and adaptable.
What are the contents of each trading plan? Each trading plan is very compact and contains the pair, the direction and time frame of the trend, the first level support or resistance to set your price alarm, the overall analysis of individual groups of pairs, CAD, USD, JPY, etc. We also give the profit targets when they can be identified or overall pip potential of each pair we plan for. You can check our plans, the trends and price alert points against the charts and trend indicators we provide. Click on the link to see some trading plan examples.
I am a veteran forex trader, can your trading plans help me? Yes, but most veteran traders have been scalping one or two pairs with standard technical indicators and they must be willing to let go of these indicators and methods. These methods were a failure and you must let go of them. A lot of currency traders just will not let go and start over fresh. This time you will study methods that work, like multiple time frame analysis and parallel and inverse analysis, analyze the entire market and have a much broader view of the market across many pairs. If you are a veteran and are capable of this you have a very good chance of succeeding with the system.
How do I know if I can become a disciplined trader? Once again you really do not know. Are you willing to study a solid and profitable trading system and go back to school? Are you available to trade in the main trading session? If you are a stable person and trading the forex for all of the right reasons you are a candidate to be a currency trader. If you are able to enjoy the journey and stay focused on the goals along with demo trading, you have an excellent chance because the forex trading system we use at Forexearlywarning.com actually works.
Is The Forex Heatmap included in the 19.95 price? Yes, our trading system includes the Forex Heatmap® and a second heatmap running on a backup server and price feed. These are both running at all times for subscribers in the members area during market hours.
What would be the best way for a trader to try out your service? It is very rare when a trader will email us to ask the best way to approach using our system. A forex trader should start by reading our website thoroughly and make sure you know how to access all of the information. Review all of the articles and illustrations and make sure you understand our system to the best of your ability. You have to do this anyway and all of the information is free. When you think you are ready set up the free trend indicators located on the home page and learn to set price alerts. Then go ahead and subscribe and be ready to start demo trade immediately. Email us when you get started if you have any questions. Due to the low price many people subscribe first and then they experience a "false start" and must back track and learn the system. Our clients like the services we provide and you can read some of their forexearlywarning reviews and testimonials to get an idea of their thoughts.
Where can I expect to be in 90 days? Assuming you learn the system well and start demo trading when the day you subscribe, you will be trading live after 90 days, likely micro lots but possibly mini lots by then. Our trading system is proven and profitable most forex traders still need to get used to following 28 pairs and getting rid of bad habits from the past. They have a substantial amount of bad habits from the past forex experiences. They must first "unlearn" everything the forex industry has taught them. If you demo trade for 30 days, then start trading with micro lots there is no reason you cannot be trading mini lots in 90 days and ramping up to full scale trading. Traders subscribe to Forexearlywarning because they are looking for better alternatives than technical indicators.
Do you provide ongoing forex education to your clients? Yes we do, we have live and recorded webinars on Monday and Wednesday nights and we have web content that explains our system very thoroughly. We are continuously reviewing and upgrading our resources. There is no extra charge for ongoing education, it is all included in the $19.95 per month price. Our educational materials are a complete "forex how to" including market analysis, trade entry points, brokerage, money management, etc.
What types of difficulties should be expected using your trading system? The biggest problem traders will have with this our system is themselves. Traders cannot seem to get out of their own way. Veteran traders who discover Forexearlywarning will have trouble with our system because they have mostly been scalping one or two pairs with technical indicators, so they struggle with false beliefs and old bad habits. We trade 28 pairs and do not use technical indicators so veteran traders have a hard time letting go of the past despite the fact that they all know that none of these indicators ever worked for them anyway. Newer traders do not have any bad habits and tend to just demo trade the system successfully much faster because their heads are not clogged up with bad information.
How high are the risks in currency trading? Risk is not knowing what you are doing and doing it anyway. With our system you study the system, then demo trade the system, then move up to micro lots, then mini lots then full-scale lots. You never risk any large amount of real money until your habits and experience base are built. That being said we still trade with stop orders and use a top-quality trade entry management system like The Forex Heatmap® forex heatmap which lowers the trade entry risk to the next level down. Every live trade has risk until you move your stop to break even. Demo trading is risk free.
Do you send out trading signals? Yes, and we also we prepare trading plans. Our trade plans are based on thorough market analysis across 8 individual currency groups and 28 pairs using multiple time frames. We have several professional forex alert systems that traders can access. So you will always know when the market is moving. When the alerts hit you can check The Forex Heatmap® if you are in the main session to verify your trade entry. The heatmap also produces live signals to supplement the trading plan pips. You will make pips two ways with this system and the heatmap serves a dual function.
Do your daily plans have stop loss and take profit levels? For stop loss guidelines you can read our trading lessons about money management and trade entries. Some trading plans have specific take profit levels and targets if we can identify the next support and resistance on the charts. We determine these levels by inspecting the charts and trend indicators that we provide to our clients. Any trader can set up these free indicators to monitor support and resistance and targets that we set in our trading plans. If there is no support or resistance nearby on strong trending pairs, we also note this in the trading plans and in this situation you would hold onto all of part of the position and for trend based profits.